REAP Financial Group LLC Buys 338 Shares of Caterpillar Inc. $CAT

REAP Financial Group LLC grew its stake in shares of Caterpillar Inc. (NYSE:CAT) by 88.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 719 shares of the industrial products company’s stock after buying an additional 338 shares during the period. REAP Financial Group LLC’s holdings in Caterpillar were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CAT. Pacific Point Advisors LLC bought a new stake in Caterpillar in the fourth quarter valued at approximately $579,000. Brighton Jones LLC grew its holdings in shares of Caterpillar by 51.5% in the 4th quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after buying an additional 2,519 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Caterpillar by 4.8% during the first quarter. Wedge Capital Management L L P NC now owns 917 shares of the industrial products company’s stock worth $302,000 after acquiring an additional 42 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Caterpillar by 41.6% during the first quarter. Farther Finance Advisors LLC now owns 11,843 shares of the industrial products company’s stock worth $3,915,000 after acquiring an additional 3,481 shares in the last quarter. Finally, Octavia Wealth Advisors LLC lifted its holdings in Caterpillar by 21.3% during the first quarter. Octavia Wealth Advisors LLC now owns 774 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 136 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In related news, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $410.00, for a total transaction of $952,840.00. Following the transaction, the director directly owned 6,917 shares in the company, valued at approximately $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Donald J. Umpleby III sold 17,166 shares of Caterpillar stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the transaction, the chairman directly owned 465,339 shares of the company’s stock, valued at approximately $215,289,088.35. This trade represents a 3.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,819 shares of company stock worth $16,885,492 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAT. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target on the stock in a research report on Wednesday, July 9th. Sanford C. Bernstein reissued a “market perform” rating on shares of Caterpillar in a research note on Monday, July 14th. Truist Financial upped their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Robert W. Baird upped their price target on shares of Caterpillar from $495.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Finally, Melius Research raised shares of Caterpillar from a “hold” rating to a “strong-buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $466.53.

Caterpillar Stock Performance

Shares of CAT stock opened at $486.86 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $505.59. The company’s fifty day simple moving average is $439.39 and its 200-day simple moving average is $380.92. The firm has a market cap of $228.09 billion, a PE ratio of 24.76, a P/E/G ratio of 3.01 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to analyst estimates of $16.14 billion. Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.99 earnings per share. Equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a yield of 1.2%. Caterpillar’s dividend payout ratio is 30.72%.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.